Tuesday, February 26, 2013
I could post a bunch of updated graphs/analysis/etc, but surely you've seen enough and it's more than obvious that things keep getting better. The housing market bottomed long ago and everything looks good as fundamentals continue to improve. I can't recommend Calculated Risk enough as a great source for updated graphs and data on all things housing.
This blog is over five years old and I really see no point in maintaining it at this point. The battle is over. I'll keep checking e-mail once in a while but this is the last blog post. Adios.
Friday, February 8, 2013
Details: 2 bed/2bath 910 sq ft house on a 6,752 sq ft lot
Description: This is a gem of a property, move in condition and sweet starter home, perfect for future development. Close to the Arts District and Farmer's Market. Located on a quiet charming cul-de-sac. Newer kitchen, huge garage, workshop. Fruit tree orchard in the back. This home will not last long on the market. One of the 3 bedrooms has no closet, therefore we are calling this a 2 bd.
Listing History: 1/30/13 - $749,000
Previous Purchase: Here's where the bears get it wrong. Dr. Housing Bubble just did a post about this house and is talking about flipping as he shows the house as being sold in 2007 for $230k. Of course this seems way too low as the sale before that was in 1993 for $220k. So rather than stick my head in the sand to try and make up a story I want to tell, I checked Property Shark. The 2007 "sale" shows the buyer and seller as having the same last name (although different first names). So when you see a way below market value transaction and then see related buyers and sellers then you know its not a real arms length transaction. So anyways...bears, please do a little research before spouting off. This is not a 3x markup over the 2007 price.
Anyways, recent comps on small two bedrooms in this area have been $700-$750k although for stuff in the 1,100 sq ft range. This property is smaller but looks nicer inside. Very little inventory in the area so we'll see how this one goes.